"Looking out over the next decade, we anticipate having a slightly smaller, but more profitable footprint in North America and a significantly larger footprint in the rest of the world", the company said in emailed statement.

Subway restaurants are 100% Franchisee owned and operated, and our commitment to the Franchisees is to work with them to make each restaurant more successful.

With an estimated 44,000 locations in 112 countries, Subway is the largest restaurant chain in the world, according to the company website.

Fast food sales, on the other hand, are getting hit by the drop in retail foot traffic in the places like malls, as well as the growing demand for healthier food.

According to a report by CNN Money, the sandwich franchise is considering closing as many as 500 stores as part of an effort to rebound from poor sales. The chain has been testing sandwich wraps and gluten-free bread, for example. Domestic stores are also being remodeled with a more modern look and conveniences such as touch-screen ordering kiosks, WiFi and charging ports.

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